Thanks, Jeremy, and good afternoon, everyone.
many these remarks, will comments operations are media forward. as of Jeremy's U.S. my segment with going the our focus primary on As
million Slide X% over than markets such primarily as by New year-over-year. X% portion lower leases our our expense was $X This with $X share financial a driven for are in U.S. up our over our or media more just to arrangements, by a less inventory the million little For declined on look which expenses. expenses and statements, please principally a operated largest U.S. media Total decline than deeper year-over-year. at were detailed X dive a lease revenue Angeles. or revenues on located media into little turn U.S. Los billboard of more York
from MAG media was U.S. flat MTA to the related a nonrenewal existing prior the contract payments with of the of small franchise year to and transit the amendments adjustments. benefit loss-making offsetting agreements, versus a expense transit annual the CPI higher
due utilities business posting, media higher and posting higher driven and costs activity rotation expenses X% costs. higher versus and to maintenance by were the higher other compensation-related U.S. prior up and primarily maintenance year, expenses,
accounts, media over to X% costs and to SG&A lower up million related expenses, professional to transitions doubtful or fees. new for quarter rent compensation-related offset just higher $X during the onetime partially expense by was severance provision offices, due U.S.
X.X% nearly margin of points year-over-year. OIBDA OIBDA. Total billboard Slide million, X media U.S. OIBDA was was basis on representing a additional detail to XX.X%, up million. provides of over the $XXX up U.S. XX sources up $XXX XX% to media U.S.
the York Transit in call, million earlier billboard For to The the the Jeremy due we improved $X full year, just up under at by believe nearly on particularly million. New improvement be $X was that revenues OIBDA to continue basis. margins to an annual better primarily described will MTA.
which fees. Total approximately U.S. OIBDA, to cost million. through combined spent million corporate due another can we over to corporate X.X% $XXX and of consulting XX, higher $X this $X.X entirely see was quarter. was be almost Slide year-to-date On $X expect project were QX million, to expense up up you the Media million, and third our
QX last higher spend maintenance Slide capital Turning under about maintenance was on to growth to spend million, that million. $X spend of while consolidated sell each $XX including maintenance of as of This the U.S. due just down XX. Canadian $X was million under to with spend. about CapEx our spend, CapEx $XX.X committed spend expenditures million agreement a media QX million, was business. was was including part flat $X little year, just
year, million full $XX of we the CapEx. million spend we For approximately will believe to total $XX
we transaction, Canadian digital of Over XXX our inventory. divested billboards around X,XXX as ended X% part with of which quarter the were billboards, our represents just digital the and of under
XXX continue billboard For target additions. XXX to to total digital we the year,
X,XXX nearly displays added U.S. in we the transit, In digital the second quarter. in
As the the deployment impaired first the York second in deployment We to on small quarter. we New MTA, quarter, commitment MTA screens and the the million complete continue cars mostly were in format in expect in and subway train initial our spend of XXXX. $X.X substantially inflations to
first expectations assumptions Looking half forward, model. our the the in and of included year-end slightly better performance our the financial than transit through year was XXXX MTA
future. of of neutral undiscounted least We If amended XXXX on of basis an the quarter end base to our now the the the our to flow additional or line in than in third we expect through this impairments the expect performance with to related flow MTA be not from cash to continues at contract would be model, better current cash agreement. incur to term
XX. on follow AFFO Now turning to Slide
You slightly can to offset due other last see in to QX by fourth due our bridge million million. AFFO cash improvements taxes OIBDA, senior $X increase higher was interest items, year's refinancing. quarter The of nearly note the $XX almost and year-over-year expense to
will to XXXX's prior range consolidated For its considers expect months AFFO million. reported the business compared we of XXXX, Canadian months growth last we in operated high sale be to that the single-digit guide to continue XX from This the year. $XXX X AFFO
liquidity and our nearly receivable for facility, XXXX. our million, Please million million in almost Slide around our by update sheet. which cash, $XXX million on $XXX accounts June including $XX Committed $XXX securitization available by is matures turn XX now revolver of available to balance an
as business. As our leverage Xx down X.Xx was from Canadian primarily flat, net XX, March due our of of total June XX, of sale the to
net a target in adjusted to to Xx, plan to range continue of we and through delevering leverage We X OIBDA. growth continue
on As accounts our term Canadian of using million freed-up facility million June receivable of $XXX XX, and we paid capital. proceeds $XX loan our down using
record Turning that shareholders another on $X.XX September approved our to dividend to September dividend. today Board at We on of business XX X. close of the cash Directors of payable our announced
Canadian our recompliance. we goal of will taxable pro the be operational the delevering dividend rata To pay current our June on a to of which created sale has based sale on larger business, the on reminder, the expectations common to which a with believe gain the will of optionality a for pay basis shareholders. the year issued and [indiscernible] X, dividend the closed we portion a maximize need in of larger As to current Board our the stock, Canadian business,
remainder larger XXXX. looking to expect the accomplished to activity lot notable will continue and in of XXXX year In acquisitions no come. current like we we our that at acquisition during enthusiastic closing, the And the quarter. the of about made continue pipeline, There look we were be deal a our to quarter,
let me that, Jeremy. call to turn With the back
